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ICBC, Huaneng Power, Daqin Railway, Suning: China Equity Preview

Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 7.05 points, or 0.3 percent, to 2,701.73. The CSI 300 Index (SHSZ300) declined 0.3 percent to 2,972.08.

Banks: Chinese lenders’ bad-loan ratio may rise 0.5 percentage point to 1.7 percent due to non-performing loans made to local government financing vehicles, Shanghai Securities News said on July 30, citing a report by the China Banking Association.

Industrial & Commercial Bank of China (601398) Ltd. (601398 CH) advanced 1.2 percent to 4.25 yuan. China Construction Bank Corp. (939) (601939 CH) rose 1.1 percent to 4.71 yuan.

Developers: Some Chinese cities may ease or cancel limits for home purchases next year to support local economic growth, Oriental Morning Post reported today, citing Yang Hongxu, head of E-House China R&D Institute.

China Vanke Co. (000002 CH): The nation’s largest developer gained 0.5 percent to 8.15 yuan. Poly Real Estate Group Co. (600048 CH) climbed 1.6 percent to 10.47 yuan.

Power producers: China’s five biggest power producers had a combined loss of 6.7 billion yuan ($1 billion) in the first half, 5.1 billion yuan more than a year earlier, China Business News said, citing the China Electricity Council.

Huaneng Power International Inc. (600011) (600011 CH), the listed unit of China’s biggest power producer, closed unchanged at 4.97 yuan. Datang International Power Generation Co. (601991 CH) added 0.4 percent to 5.43 yuan.

China XD Electric Co. (601179 CH): The company’s first-half profit fell 93 percent to 36 million yuan from a year earlier, according to a preliminary earnings statement filed to the Shanghai Stock Exchange on July 29. The stock dropped 0.5 percent to 5.58 yuan.

Chongqing Changan Automobile Co. (000625 CH): The automaker’s board approved a plan to boost registered capital in its design center in Europe to 14.6 million euros (21 million), according to a statement to the Shenzhen Stock Exchange on July 29. Changan will inject 14.5 million euros into the unit, according to the statement. The stock rose 0.4 percent to 4.97 yuan.

Daqin Railway Co. (601006 CH): The company got approval from the China Securities Regulatory Commission to issue as much as 8 billion yuan of bonds, according to a filing to the Shanghai Stock Exchange on July 29. The stock lost 1.4 percent to 7.60 yuan.

Henan Shenhuo Coal & Power Co. (000933 CH): The company’s first-half profit fell 13 percent to 641 million yuan, according to a statement to the Shenzhen Stock Exchange on July 29. The stock declined 1.1 percent to 16.65 yuan.

Suning Appliance Co. (002024 CH): The company’s first-half net income rose 25 percent from a year earlier to 2.47 billion yuan, according to a preliminary earning statement to the Shenzhen Stock Exchange on July 29. The stock retreated 2.2 percent to 12.42 yuan.

Yanzhou Coal Mining Co. (600188 CH): The company has been approved by the Shandong government to acquire Syntech Resources Pty Ltd., according to a statement posted on the National Development and Reform Commission’s website on July 29. The stock sank 2.8 percent to 32.55 yuan.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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